Wnc Bridge Foundation
- Assets
- $127.5m
- Revenue
- $4.5m
- Investments
- $19.7m
- Employees
- 47
- Location
- Asheville, NC
- Founding
- 08/2004
- Data as of
- 12/2023
- EIN
- 56-2110357
Organization Overview
Wnc Bridge Foundation is located in Asheville, NC. The organization was established in 2004. According to its NTEE Classification (T12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2023, Wnc Bridge Foundation employed 47 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wnc Bridge Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Wnc Bridge Foundation generated $4.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (3.5%) each year. All expenses for the organization totaled $8.1m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Wnc Bridge Foundation has awarded 436 individual grants totaling $33,991,201. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE FUNDS TO ASSIST IN MEETING THE HEALTH CHALLENGES OF PEOPLE IN THE COMMUNITIES OF WESTERN NORTH CAROLINA AND TO EMPOWER NONPROFITS TO IMPACT INDIVIDUAL AND COMMUNITY WELLNESS IN THOSE COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WNC BRIDGE FOUNDATION INVESTED $3,295,285 IN GRANTS AND COMMUNITY INITIATIVES IN THE EIGHTEEN COUNTIES OF WESTERN NORTH CAROLINA.-$97,906 IN SAFE HOUSING AND FOOD INSECURITY (AIM GRANTS)-$445,643 IN ADDITIONAL WNC BRIDGE COMMUNITY INITIATIVES (RATHBUN HOUSE, YOU'RE SPECIAL FUND, CHILDREN'S SERVICES FUND, HEALTH SCHOLARSHIPS AND WNC GREATEST NEEDS)-$512,000 IN REGIONAL INVESTMENTS (MOUNTAINCARE & SHILOH COMMUNITY)
IMPACT GRANTS OF $2,239,736 WERE AWARDED TO LOCAL NON-PROFITS IN WNC.
THE ORGANIZATION OPERATES A THRIFT STORE AND OFFERS ESTATE SALES. INCOME FROM THE THRIFT STORE AND COMMISSIONS FROM ESTATE SALES ARE INCLUDED IN REVENUE FROM THE SALE OF INVENTORY. THE COST OF GOODS SOLD FOR THE THRIFT STORE, $328,950, IS NETTED WITH REVENUE, $1,260,629.THE DONATIONS TO THE THRIFT STORE ARE NOT INCLUDED IN NON-CASH CONTRIBUTIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott W Buchanan CEO & President | OfficerTrustee | 40 | $221,000 |
David W Hart Chair | OfficerTrustee | 2 | $0 |
Matt Groome CPA CFP Qpfc Chair-Elect | OfficerTrustee | 2 | $0 |
Gay P Vinson Past-Chair | OfficerTrustee | 2 | $0 |
H Denniston Crews MD Secretary | OfficerTrustee | 2 | $0 |
Kerry Friedman JD Treasurer | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bessemer Trust Investment Management | 12/30/23 | $678,978 |
Jcs Investments Llc Rental Of Property | 12/30/23 | $178,797 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,135,970 |
| Noncash contributions included in lines 1a–1f | $736 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,135,970 |
| Total Program Service Revenue | $0 |
| Investment income | $1,610,857 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $341 |
| Net Rental Income | $93,100 |
| Net Gain/Loss on Asset Sales | $779,647 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $931,679 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,463,165 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,879,998 |
| Grants and other assistance to domestic individuals. | $415,287 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $258,363 |
| Compensation of current officers, directors, key employees. | $129,181 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,488,712 |
| Pension plan accruals and contributions | $62,643 |
| Other employee benefits | $222,948 |
| Payroll taxes | $125,622 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,100 |
| Fees for services: Accounting | $53,673 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $276,578 |
| Fees for services: Other | $153,704 |
| Advertising and promotion | $38,001 |
| Office expenses | $159,011 |
| Information technology | $205,349 |
| Royalties | $0 |
| Occupancy | $249,397 |
| Travel | $26,639 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $630,635 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $656,794 |
| Insurance | $113,308 |
| All other expenses | $27,735 |
| Total functional expenses | $8,053,497 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $551,696 |
| Savings and temporary cash investments | $276,654 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,390 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $127,359 |
| Net Land, buildings, and equipment | $10,091,350 |
| Investments—publicly traded securities | $95,548,250 |
| Investments—other securities | $19,737,661 |
| Investments—program-related | $0 |
| Intangible assets | $517,281 |
| Other assets | $606,231 |
| Total assets | $127,467,872 |
| Accounts payable and accrued expenses | $705,483 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $9,844,267 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $658,928 |
| Total liabilities | $11,208,678 |
| Net assets without donor restrictions | $113,291,368 |
| Net assets with donor restrictions | $2,967,826 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $127,467,872 |
Grants Awarded
Over the last fiscal year, Wnc Bridge Foundation has awarded $2,855,298 in support to 58 organizations.
| Grant Recipient | Amount |
|---|---|
ASHEVILLE BUNCOMBE INSTITUTE OF PARITY ACHIEVEMENT PURPOSE: IMPACT GRANT - ACTIVE | $50,000 |
ASHEVILLE POVERTY INITIATIVE PURPOSE: IMPACT GRANT - ACTIVE | $31,796 |
BABIES NEED BOTTOMS INC PURPOSE: IMPACT GRANT - ACTIVE | $25,000 |
ANCHOR BAPTIST CHURCH & MINISTRIES PURPOSE: IMPACT GRANT - ACTIVE | $30,000 |
BEACON OF HOPE SERVICES PURPOSE: IMPACT GRANT - ACTIVE | $50,000 |
AWAKE CHILD ADVOCACY CENTER PURPOSE: IMPACT GRANT - ACTIVE | $50,000 |